London, 29 April 2013 - BLME, Europe's largest Islamic bank, has today announced that it has won the Zawya and Thomson Reuters' International Asset Manager award, reflecting the consistent performance of its Sharia'a compliant funds that compete with the bank's conventional peers.
The MENA Asset Management Awards 2013 is an established and prestigious event, held to celebrate industry top performers and service providers from each region, through a certified, unique, transparent, and well respected rating system, customised specifically to address the MENA region's requirements.
Jason Kabel, Head of Fixed Income at BLME, said:
"We are delighted that our top performing funds have been recognised by Zawya and Thomson Reuters. We expect the outperformance of our benchmarks to continue with support from a buoyant Sukuk market. Sukuk issuance is expected to increase threefold from $300bn in 2010 to $900bn by 2017, according to Ernst and Young, which is positive news for our funds and for investors looking to access the buoyant Sukuk market. "
Waleed Al Omar, Head of Insitutional Coverage at BLME, added:
"We expect that 2013 will be another milestone year for the Islamic finance industry, particularly in light of the commitment shown to the industry by Dubai in recent months."
BLME's Global Sukuk Fund and US$ Income Fund are part of an unregulated collective investment scheme and are only available to professional clients or eligible counterparties. Shares in these funds should only be purchased by persons with experience of participating in unregulated schemes or through a qualified professional adviser.
*The Global Sukuk Fund was previously called the US$ High Yield Fund.
About BLME
BLME is an independent wholesale Sharia'a compliant bank based in London and is a leading provider of alternative finance to the UK mid-market. BLME received FSA authorisation in July 2007 and is the largest of its peers in Europe. Led by a management team that brings together a combination of experienced international bankers and leading experts in Islamic finance, BLME has three key business areas; Corporate Banking, Treasury and Wealth Management, which includes Asset Management and Private Banking.
BLME is dedicated to offering innovative Islamic investment and financing products to businesses and high net-worth individuals in the European, US, Asian and MENA regions. To ensure that BLME's services and operations are wholly Sharia'a compliant, the Bank has a dedicated Sharia'a Supervisory Board ("SSB"). The SSB's role is to review contracts and agreements relating to all transactions ensuring that they are consistent with the principles of Islamic jurisprudence.
About the awards hosts
Thomson Reuters
We are the leading source of intelligent information for the world's businesses and professionals, providing customers with competitive advantage. Intelligent information is a unique synthesis of human intelligence, industry expertise and innovative technology that provides decision-makers with the knowledge to act, enabling them to make better decisions faster. We deliver this must-have insight to the financial and risk, legal, tax and accounting, intellectual property and science and media markets, powered by the world's most trusted news organization.
Zawya
For clients with a heavy regional focus and looking to invest in companies and projects close to home, Zawya provides access to industry and asset class research as well as a portal to connect with the financial community. Complimented by Reuters and Dow Jones live news feeds, the service keeps you up to speed with any developments in your industry so you can make informed investment decisions.
For More Information Contact:
Leslie Mouawad |Bensirri Public Relations
M: +965 99981334
E: leslie@bensirri.com
© Press Release 2013